Electronic Auction - not sure about. Heard Google may do it, but is not looking likely:

"TECHNOLOGY
Google gets help for stock offering
Google Inc. hired Morgan Stanley and Goldman Sachs Group Inc. to arrange its initial public offering, a sale that might raise as much as $4 billion, a banker involved in the transaction said.

Morgan Stanley and Goldman Sachs will lead a group of underwriters that includes Citigroup Inc., Credit Suisse First Boston, J.P. Morgan Chase & Co., Thomas Weisel Partners LLC and WR Hambrecht & Co., two bankers in the sale said. They spoke on condition they not be named.

The stock sale by Google, the world's most used Internet search engine, would be the biggest IPO since CIT Group Inc.'s $4.87 billion deal in July 2002. It "will certainly be the deal of the year," said Sanford Robertson, who founded the San Francisco investment bank Robertson, Stephens & Co. before starting private-equity firm Francisco Partners LP." Source: [ http://www.freep.com/money/business/irep6_20040106.htm ].

So, what's everybody going to do? Me, planning on going long on 1 to 3 shares via Scottrade then looking at the trade again in about 3 years.